Financial update:

Aprila continued the strong growth from the first quarter. At the end of the second quarter, Aprila had 1,812 SME customers, an increase of net 605 customers (+50%) since the end of the first quarter of 2020. Visma eAccounting accounted for ~35% of the customers added in the quarter, followed by Fiken with ~30%, own channels with 16%, Tripletex with 14% and other channels with ~5%.

Gross loans amounted to NOK 76 million at the end of the quarter, an increase of NOK 18m (+31%) compared to the end of Q1 2019. The credit line product launched in December 2019 accounted for 63% of gross loans at the end of the quarter.

Due to Covid-19, the bank implemented measures to reduce the credit risk at the end of the first quarter, resulting in lower approval rates for spot factoring, and hence, a decline in purchased amount in the second quarter. Purchased amount in Q2 2020 amounted to NOK 80 million, compared to NOK 97 million in Q1 2020. The credit rules were eased medio May and spot factoring volumes returned to pre Covid-19 level in June.

New partnership:

Aprila has entered into an agreement with FINN to offer a fully digital home rental marketplace, with financial services integrated into the offering to remove friction, uncertainty and risk for landlords and tenants. The service will launch in Q3 2020. 

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Contact person at Aprila Bank ASA:
Halvor Lande, CEO
tel: +47 924 32 305
email: halvor.lande@aprila.no

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=== About Aprila Bank ASA ===
Aprila is a product- and technology company offering innovative financial solutions to small and medium sized businesses and retail customers. Aprila’s API-based technology platform is connected to around 130,000 SMEs through partnership agreements with leading cloud-based ERP and accounting system providers. 

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